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't think the unite states congress ould proceed with his nominion until he tells us what was the nsequence of opening up the discount window, excuse meot the diount window, the loan window, at the fedal reserve nk to investment banks for the first time in amican history. >> reporter: bernanke has de recent moves to adess his critics saying he weomes an investigation to the bailout of a.i.g he still has the suprt of the whithouse. a spokman today says the prident thinks bernanke is the be person for the job and that will be confirmed by the senate. his predecessoalan greenspan al gave bernanke the thumbs up, telling "nhtly businessÑiÑi port" he's quote "far and aw the best person to ld the fed." and many economists, inclung mark zandi say bernankshould be reconfirmed. >> i would be very surprisedf he's n re-appointed. if he's not, this would disrt financial maets and raise th odds that the ecomy will not evolve into an expansi. >> reporter:hile bernanke is still e odds-on favorite to keep the j, others say a newñr face, like san fraisco fed president net yellin or white house econist chr
't think the united states congress shld proceed with his nominatn until he tells us what was the coequence of opening up the discount window, excuse me n the discnt window, the loan window, at the feder reserve ba to investment banks for the first time iamerican history. >> reporter: bernanke s made recent moves to addrs his critics saying he welces an investigation in the bailout of a.i.g. he still has the suppo of the white use. a spokesn today says the present thinks bernanke is the besterson for the job and that heill be confirmed by the senate. his predecessor an greenspan alsoave bernanke the thumbs up, telling "nigly businessÑiÑi rert" he's quote "far and away the best person to leathe fed." and many economists, iluding mark zandi say bernke should be reconfirmed >> i would be very surpred if he not re-appointed. if he's not, this would srupt financiamarkets and raise the odds that the econy will not evolve into an expansion >> reporter: wle bernanke is still thodds-on favorite to keep the jobothers say a newñr face, like san francco fed president jat yellin or white house econom
of the united states. >> gharib: and tomorrow, i'll be talking with the ceo of the nasdaq omx. here's what we're also watching for tomorrow. definitive answers on the holiday shopping season's bottom line: individual retailers report december sales results. weekly jobless claims are also released. and, tomorrow's "street critique" tackles the entire s&p 500 stock index. if you own an index mutual fund, how what you own is different today compared to ten years ago. our guest, howard silverblatt, index analyst at standard and poor's. "the budget crisis is our katrina". that's what california governor arnold schwarzenegger said today in his state of the state address. california's budget deficit now stands at $20 billion. schwarzenegger wants the federal government to help close that shortfall. he says california sends far more money to washington than it gets back. he wants that to change. he also proposed a big jobs program: half a billion dollars to create 100,000 jobs. >> tom: if you have a question about filing your taxes, calling the i.r.s. may not be your best bet. an i.r.s. watchdog says
is stiff competition from lower cost prucers outside the united states. the american manufacturing workforce has shrunky more than 40% from it's peak 1979. many econosts fear job losses willet worse, especially if ngress raises corporattaxes or reqres more employers to ovide health insurance for their works. eitherould make it more expense to operate a factory in t u.s. but joe carson thinks nufacturing jobs will start come back, thanks, in partto a falling doar. >> given the changg landscape, particularly othe currency side, a lot foreign firms may start toove production to amera to produce things. we're seeing a shift by auto manufacturers cong to america to produce and prote their market shas. >> reporter: micro stampg says the key tots success is emphasing more than just par oduction. it tries thelp clients cut costs improving product design, turnarnd times, and quality corol. >> lecycles are shorter now than they've ever been in produc. and so trying to bable to manufacture lf way around the world can be vertricky in short life cycle products. so, we're optimistichat we're
lower cost producers outside the united states. the american manufacturing workforce has shrunk by more than 40% from it's peak in 1979. many economists fear job losses will get worse, especially if congress raises corporate taxes or requires more employers to provide health insurance for their workers. either could make it more expensive to operate a factory in the u.s. but joe carson thinks manufacturing jobs will start to come back, thanks, in part, to a falling dollar. >> given the changing landscape, particularly on the currency side, a lot of foreign firms may start to move production to america to produce things. we're seeing a shift by auto manufacturers coming to america to produce and protect their market shares. >> reporter: micro stamping says the key to its success is emphasizing more than just parts production. it tries to help clients cut costs by improving product design, turnaround times, and quality control. >> lifecycles are shorter now than they've ever been in products. and so trying to be able to manufacture half way around the world can be very tricky in short lif
very definitely it's driven in that direction. remember, the four largest banks in the united states have over 50% of the assets of the american banking industry. and i think that the obama administration very definitely wants to change those metrics. it wants these companies made a lot smaller. it wants this industry broken up. >> and yet you are saying in your report today, you said that this plan if it does become law will be a bonanza for shareholders. how so? >> well, basically if you think about it, most of the consumer products which banks sell, whether it is credit cards, mortgages, whether it is auto loans or home-equity loans are just not profitable. they make, they lose alot of money on them. at the present time. and they have no growth potential. so if the banks cannot grow, it's-- it makes a tremendous amount of sense to get rid of those businesses which are the least profitable which are the consumer financed businesses. once they get rid of those businesses, then those businesses are going to have trouble finding capital and deposit. and that's the reason you won't get
that category because they do not havehe debt dynamicshat we have right here in the united states. so onceou goglobal and one should gglobal ineasingly u. investors should have a obal mindset, therere oppounities in germany, there's opportunities in t high-quality ergingeconomies. >> grib: real quickly, should this bbuy and hold or just resess everything in 2011? >> susie, we ar today in the rehabilitation of the glob economy with t u.s. economy. yoknow, '08 was the crisis d '09 w a recovery led by policy and '10, we're resetting t system. so nothing is absolutely long term now. i think investors will have to ask themselv more questions more often than was assum in the past. i would look at r the next six mohs and we're going to get a lot of information abo this journey tohat we have cled the new ormal. not the oldnormal, but the new normal. >> gharib: all right. we'll count on you to keep us on track about e new normal. thk you so much. >>hank you. >> gharib: my gut tonight, mohad el-erian, ceo of pimco. >> tom: here are thetories in tonight's "nbr newswheel". stocks rose slightly dpite tha
. it's $4500 of dealt for every man, whom and child in the united states. >> susie: so it's no wonder he called it daunting. and it's going to be daunting for president obama too to explain to the american public how he's going to cut that deficit and create jobs at the same time. stephanie dhue reports. >> reporter: c.b.o. directors aren't known for hyperbole. the man in the job now, doug elmendorf, is blunt. >> the outlook for the federal budget is bleak. >> reporter: that's why president obama is expected to use tomorrow's state of the union speech to propose a freeze on some domestic spending. untouched would be defense spending, social security, medicare, and medicaid. the move could save $250 billion, but it would hardly dent a projected $6 trillion deficit over the next decade. >> it would be a step in the right direction, but a small step. >> reporter: evan bayh and john mccain want to freeze earmarks, create a deficit reduction account, and give the president a line-item veto. senator bayh hopes the move could change voters' minds about government. >> we have to stand with th
, anyone? actually no, if you'ren the philpines. the united states today filea complaint against the philippines at the wor trade organization claming the isld nation discriminat against u.s. bras of booze. mani taxes imported whiskey, brandy, gin, a other alcoholic beverages at muchigher rates than its domtic drinks. that hurts u.s. drink compies li brown-forman, maker of jack daniel and fortune brands. >> susie: our commentator tonight also has some suggestions for chan at the federal reserve. he says e nation's central bank needs a n road map, literally. he's todd buchholz, thor of "lasti lessons from the corner office." >> ben bernanke is hding an olmap. no wonder he didn't sethe recession coming. the federal reserve systemooks like a railroad map from 13. do you realizee have a kansas city fed and a st.ouis fed? but weave no federal reserve nk in southern california or in t entire state of florida. yet the housing bubble in the regions nearly destroy the entire world. they are gateways tour fastest growing tring partners. the arest fed headquarters to the portf miami is abou
global markets. clearly, there is still plenty of appetite to allow the united states to borrow. >> i think there is lots of appetite now, and i'm not too worried about the deficit this year or even next year, i am worried about a continued projection of a decade of trillion dollar deficits. there is a point at which everyone else has recovered, they look like better risks than we do. >> tom: douglas holtz-eakin, former director of the congressional budget office. >> susie: still ahead, what sectors could make. >> susie: still ahead-- what sectors could make good places to invest during president obama's second year? find out from black rock's bob doll. >> tom: a critical item the obama administration must continue to tackle this year is housing. so far, $75 billion from the troubled asset relief program has been earmarked for modifying home loans, but results have been slow. with unemployment in double digits, turning the tide of foreclosures is still a challenge. stephanie dhue reports. >> reporter: the threat of foreclosures continue to plague a recovery in the housing market. the
coetition from lower cost producs outside the united states. thamerican manufacturing workforce has shrunk by re than 40% from it's peak in 19. many economistfear job losses will getorse, especially if congss raises corporate tas or requiremore employers to prove health insurance for their workers. either cou make it more expensive operate a factory in the u. but joe carson thinks manucturing jobs will start to me back, thanks, in part, to falling dollar >> given the changing ndscape, particularly on thcurrency side, a lot of feign firms may start to movproduction to america produce things. we're seeing a shift by auto manufacturers ming to america to produce and protect tir market shares. >> reporter: micro stamping ys the key its success is emphasizinmore than just parts prodtion. it tries to he clients cut costs by iroving product design, turnaroundimes, and quality contro >> lifecles are shorter now an they've ever been in products. and so trying to be ab to manufacture halfay around the world can be very trky in sht life cycle products. so, we're optimistic thawe're in a goospot. >
in the united states. so once you go glob, and one shouldo global creasingly s. investors should have a global mindset, the are oprtunities in germany, there's opportunities inhe high-qualitymerging economies. >>harib: real quickly, should this be buand hold or just reasse everything in 2011? >>susie, we are tay in the habilitation of the global economy with the u. economy. you kn, '08 was the crisis and 9 was a recoveryed bypolicy an'10, wre resetting the system. so nothing is solutely long term now. i think investors will have to ask themsees more questions more often than was assed in the past. i would look afor the next six nths and we're going to get lot of informati aut this journey what we havealled the new normal. not the old normal, but t new normal. gharib: all right. we'll count on you to keep on track about the w normal. thank u so much. >> tha you. >> gharib: my guest night, mohamed -erian, ceo of pimco. >> tom: here are the stoes in toght's "nbr newswheel". stocks rose slightly despi that employment report. the dow isp 11 points, the naaq rose 17, and the s&p 500 climbed 3. tre
the debt dynamics that we have right here in the united states. so once you go global, and one should go global increasingly u.s. investors should have a global mindset, there are opportunities in germany, there's opportunities in the high-quality emerging economies. >> gharib: real quickly, should this be buy and hold or just reassess everything in 2011? >> susie, we are today in the rehabilitation of the global economy with the u.s. economy. you know, '08 was the crisis and '09 was a recovery led by policy and '10, we're resetting the system. so nothing is absolutely long term now. i think investors will have to ask themselves more questions more often than was assumed in the past. i would look at for the next six months and we're going to get a lot of information about this journey to what we have called the new normal. not the old normal, but the new normal. >> gharib: all right. we'll count on you to keep us on track about the new normal. thank you so much. >> thank you. >> gharib: my guest tonight, mohamed el-erian, ceo of pimco. >> tom: here are the stories in tonight's "nbr newsw
the crisis. >> i don't think the united states congress should proceed with his nomination until he tells us what was the consequence of opening up the discount window, excuse me not the discount window, the loan window, at the federal reserve bank to investment banks for the first time in american history. >> reporter: bernanke has made recent moves to address his critics saying he welcomes an investigation into the bailout of a.i.g. he still has the support of the white house. a spokesman today says the president thinks bernanke is the best person for the job and that he will be confirmed by the senate. his predecessor alan greenspan
Search Results 0 to 16 of about 17 (some duplicates have been removed)